Arizona Lithium Limited (AU:AZL) has released an update.
Arizona Lithium Limited has successfully raised AUD $11 million through the strategic sale of non-core land and data from its Prairie Lithium Project to Homestead Energy Inc., without diluting shareholder equity. The deal involves approximately 51,600 acres of mineral title and related data, bolstering the company’s capital to further develop its main project area. The proceeds will be directed towards achieving commercial production at the Prairie Lithium Project by 2025.
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